J.W. Cole Advisors Inc. lifted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 123.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,844 shares of the asset manager's stock after purchasing an additional 28,134 shares during the period. J.W. Cole Advisors Inc.'s holdings in Blackstone were worth $7,107,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in Blackstone during the first quarter worth about $28,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $34,000. Putney Financial Group LLC bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $34,000. Finally, Garde Capital Inc. bought a new stake in Blackstone during the 1st quarter worth approximately $36,000. Institutional investors own 70.00% of the company's stock.
Insider Activity at Blackstone
In other news, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of Blackstone stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the purchase, the insider directly owned 4,178,771 shares of the company's stock, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider owned 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,849,769 shares of company stock valued at $54,932,307. 1.00% of the stock is currently owned by company insiders.
Blackstone Price Performance
Shares of Blackstone stock traded up $1.81 during trading hours on Wednesday, reaching $171.19. The company's stock had a trading volume of 1,337,735 shares, compared to its average volume of 3,840,289. The stock has a market cap of $124.91 billion, a P/E ratio of 51.59, a P/E/G ratio of 1.50 and a beta of 1.65. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The firm has a 50 day moving average price of $146.60 and a 200-day moving average price of $150.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75.
Analyst Ratings Changes
Several brokerages have weighed in on BX. Cowen reaffirmed a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Wells Fargo & Company raised their price target on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. JMP Securities lifted their price target on Blackstone from $165.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI increased their price objective on Blackstone from $152.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $162.18.
Read Our Latest Analysis on BX
Blackstone Company Profile
(
Free Report)
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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